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Majestic Highlands - Past Auctions

Asheville, North Carolina

Welcome to The Majestic Highlands of Asheville™, a one-of-a-kind, trophy property where the confluence of all that nature has to offer is located here, in the heart of the Blue Ridge Mountains of Western North Carolina.

Majestic Highlands™ is comprised of approximately 795 acres of exceptional, high elevation, mountain-top land situated high atop the Swannanoa Mountain Range located immediately east of Asheville, North Carolina.

This property includes a 663-acre tract consisting of a very large and unique mountain-top bowl surrounded by spectacular ridgelines about its perimeter and a 113-acre tract comprised of natural forest filled with mature hardwoods, hiking, nature and equestrian trails and tremendous scenic beauty. A 10-acre tract that abuts the 663-acre tract includes what was historically known as Lake Tsuga, an unusual, high-elevation, 8-acre lake perfect for canoening, kayaking, fishing, fly-fishing and swimming. An additional 9-acre tract that borders the northern shoreline of the lake and includes more than 700 feet of lakeshore frontage, is also included in the overall land package.

The Blue Ridge Mountains of the Southern Appalachian Mountain Range provide some of the most unique opportunities in the world for mountain-top living. One can discover a variety of large-acre tracts that offer high-elevation settings with excellent buildable topography; other properties offer a combination of old-growth, hardwood forests and open pastureland; a handful of large, contiguous tracts offer 360-degree, 50 mile views in all directions, with orientations predominately in the much desired easterly, southerly and westerly directions; in more rare instances still, some hard-to-find properties include an existing trail system comprised of miles of hiking, nature and equestrian trails; they are very difficult to find, but there may be a few high-elevation tracts that offer mountain peaks connected by miles of ridgelines that encircle a private, protected bowl of unmatched beauty; and a precious few more offer a serene mountain-top lake setting. Finding property with one or more of the above attributes would be truly unique. Finding all of the above attributes in one, contiguous, expansive tract of mountain-top land is simply extraordinary. Welcome to The Majestic Highlands of Asheville™, a one-of-a-kind, trophy property where the confluence of all that nature has to offer is located here, in the heart of the Blue Ridge Mountains of Western North Carolina.

Fairview, an unincorporated, "census-designated place" in Buncombe County, North Carolina

25 minutes to downtown Asheville, the cultural heart of Western North Carolina (WNC)

35 minutes to the Asheville Regional Airport

1 hour, 20 minutes to the Greenville-Spartanburg lnt'I Airport

1 hour, 50 minutes to the Charlotte lnt'I Airport f.

30 minutes to Mission and St Joseph's Hospitals

15 minutes to Fairview Elementary School

20 minutes to A.C. Reynolds Middle School

20 minutes to A.C. Reynolds High School

30 minutes to UNC Asheville

30 minutes to the Biltmore Estate

30 minutes to Biltmore Village

20 minutes to the Blue Ridge Parkway

I hour to the Wolf Laurel Ski Area

1 hour, 15 minutes to the Cataloochee Ski Area

1 hour, 35 minutes to the Sugar Mountain Ski Area

1 hour, 45 minutes to the Beech Mountain Ski Area

From 30 minutes to 1 hour, 30 minutes to the French Broad, Nantahala, Tuckasegee, Nolichucky, Davidson, Pigeon, Little Tennessee and North Fork Rivers and Hazel Creek and Eagle Creek in the Great Smoky Mountains National Park, depending on which river and the desired access/launch point

40 minutes to Chimney Rock State Park

45 minutes to Lake Lure

1 hour, 25 minutes to Great Smoky Mountains National Park

1 hour to the Dupont State Forest

1 hour to the Tryon International Equestrian Center

1 hour to the incredibly versatile, small town of Brevard, North Carolina: home to the Brevard Music Center, one of the country's premiere summer classical music training programs and festivals; home to Brevard College, which has won the last three Division II National Mountain Bike titles; and the hub of Transylvania county, which boasts no less that 250 magnificent, cascading waterfalls scattered throughout its awesome, scenic beauty.

Locale:

Asheville and the Western North Carolina Region

If the unique characteristics of this uncommon property were not enough to attract the most discriminating of buyers, then perhaps the property’s physical proximity (25 minutes) to the remarkable downtown vibrancy of the small city of Asheville would serve as the tipping point.

Asheville has been called the “Paris of the South”, the “San Francisco of the East” and the “Key West of the Mountains”.

The accolades are never-ending and they span a very wide range of cultural interests and diversity in lifestyle. Suffice it to say that Asheville’s restaurant, art and music scene is more active and culturally diverse than many of the much larger metropolitan areas across the country.

Asheville has been recognized on more national and international “Top Twenty” lists of favorable descriptions than perhaps any other small city in the nation. Set forth below is just a small sample of those impressive accolades:

#1, “Best U.S. Destination for 2017”

One of the “9 Most Romantic Cities in the South”

One of the “20 Coolest Towns in the U.S.”

One of the “13 Greatest Destination Food Towns in America”

#10, on the list of “Friendliest Cities in the U.S.”

#4 on the list of “Top Ten Foodie Cities”

One of “America’s Best River Towns”

One of the “Most Beautiful Places in America”

#1, “Place to View Fall Foliage”

“The Happiest City in the United States"

“America’s 12 Greatest Music Cities”

“Top 5 Pet-Friendly Towns”

“Best Places to Go in 2015”

“America’s Smartest Cities”

One of the 10 best places to see “The Brightest Fall Foliage Around the USA”

One of the “10 Great Honeymoon Locations within the US”

“The Biggest Little Culinary Capital in America”

One of the “Best Summer Weekend Escapes”

One of the “Best Places to Rent a Summer Home”

#1, “Best Places to Live and Work as a Moviemaker”

One of the “Best Meeting Sites in the South Readers’ Choice Awards”

One of the “Tastiest Towns in the South”

One of the “15 Destinations on the Rise”

#5, “Best City for Weight Loss”

One of “America’s Best Affordable Places to Retire”

General Description:

Majestic Highlands™ is comprised of approximately 795 acres of exceptional, high elevation, mountain-top land situated high atop the Swannanoa Mountain Range located immediately east of Asheville, North Carolina. The Swannanoa Mountain Range is the highest elevation collection of peaks and ridgelines set in such close proximity to the valley that defines the thriving small city of Asheville.

Approximately 776 of the 795 acres are made up of two abutting premier land tracts consisting of 663 acres and 113 acres. The 663-acre tract, historically known as “The Ponderosa”, consists of a very large and unique mountain-top bowl surrounded by spectacular ridgelines about its perimeter. The views from these ridgelines are breathtaking in virtually all directions. The remainder of the 776 acres, including the 113-acre tract, is comprised of natural forest filled with mature hardwoods, hiking, nature and equestrian trails and tremendous, scenic beauty.

A 10-acre tract that abuts the 663-acre tract includes what was historically known as Lake Tsuga. This pristine lake is approximately 8 acres in size and serves as a fabulous mountain-top amenity, perfect for canoeing, kayaking, fishing, fly-fishing and swimming. An additional 9-acre tract that borders the northern shoreline of the lake and includes more than 700 feet of lakeshore frontage, is also included in the overall land package, bringing the total land area to approximately 795 acres.

Acreage:

Property Identification Numbers (PIN's):

a) 0607360815 (663.36ac)

b) 0608201501 (112.88ac)

c) 0607164665 (10.48ac)

d) 0607173281 (8.64ac)

Total Acres: 795+/- Acres

Improvements:

Utilities/Infrastructure:

Electric Power: Duke-Progress Energy

Telephone: AT&T

Water: Private Well

Sewer: Private Septic Wastewater Facilities

Cable/ Satellite: Satellite

Internet: Satellite or AT&T

Gas: Private Propane Tank

Lake: Lake Tsuga; earthen dam at west end

Recreational Considerations:

The nearby outdoor recreational opportunities and eco-tourism in and around the Asheville area and the greater Western North Carolina region are as diverse and accessible as any location in the world. Canoeing, kayaking, white-water rafting, tubing, fishing and fly-fishing are available on a wide range of rivers including the French Broad, Nantahala, Tuckasegee, Nolichucky, Davidson, Pigeon, Little Tennessee and North Fork Rivers and Hazel Creek and Eagle Creek in the Great Smoky Mountains National Park. Hiking and mountain-biking opportunities are plentiful along the Appalachian Trail and along numerous trail systems accessed from the scenic Blue Ridge Parkway, the Great Smoky Mountains National Park, the Pisgah, Nantahala and Cherokee National Forests as well as the Dupont and Headwaters State Forests. Winter sports and recreational venues provide additional, nearby outdoor entertainment opportunities that truly provide for year-round exercise and athletic challenges. Skiing, snow-boarding and snow tubing facilities are found from the Cataloochie Ski area located just west of Asheville to the Wolf Laurel Ski area to the north and the Beech Mountain and Sugar Mountain Ski areas to the east. Cross-country skiing and snowshoeing adventures are also available within many of the same areas that cater to hiking in the warmer months.

30 minutes to 1 hour 30 minutes to 8 major navigable rivers

1 hour to 1 hour 45 minutes to 4 major ski resorts

Broker Comments:

Attributes of Property:

Close proximity to the thriving, bohemian downtown of Asheville, North Carolina (25 minutes)

High average elevation (ranging from 3,200 - 4,300 feet)

Spectacular, long-range, layered mountain views in all directions, from 25-50 miles

Unique, 663-acre bowl surrounded by mountain peaks and miles of connecting ridge lines

Significant size and contiguity of acreage with mostly gentle topography

Combination of mature hardwood forests and open pastureland

Excellent orientation ranging from east to southeast to south to southwest and west, but not to the north; northern orientations typically include steeper, rockier slopes that receive far less sunshine and warmth

Existing and well-maintained hiking, nature and equestrian trail system

Existing electrical power and telephone system

Helicopter accessible

Exceptional sense of privacy

Terms:

Summary of Terms and Conditions:

A 10% buyer's premium will be added to the final bid price to determine the total contract price.

A 10% earnest money deposit of the total contract price will be due immediately from the successful bidder.

The property is being sold "AS IS, WHERE IS" and without any contingencies including financing.

The closing will be set 20 days from the auction date or as soon thereafter as closing documents are available.

100% of the Seller's mineral interest will convey.

Broker Participation:

A commission will be paid to any properly licensed brokers who register the successful Buyer per the Broker Participation Guidelines. Contact Hall and Hall Auctions to receive client registration form and guidelines.

Additional Services:

MANAGEMENT SERVICES – Hall and Hall’s Management Division has a very clear mission–to represent the owner and to ensure that his or her experience is a positive one. Services are customized to suit the owner’s needs. They often begin with the recruiting and hiring of a suitable ranch manager or caretaker and are followed by the development of a management or operating plan along with appropriate budgets. Ongoing services include bill paying, ranch oversight, and consulting services as needed. Even the most sophisticated and experienced ranch owners appreciate the value of a management firm representing them and providing advice on local area practices and costs. Wes Oja and Jerome Chvilicek at (406) 656-7500 or Justin Bryan at (325) 260-5883 are available to describe and discuss these services in detail and welcome your call.

RESOURCE ENHANCEMENT SERVICES – Increasingly the value of a ranch is measured by the quality of each and every one of its resources. Coincidentally, the enhancement of a ranch’s resources also increases the pleasure that one derives from the ownership of a ranch. Our management services have included the assessment of everything from wildlife habitat to bird habitat to water resources and fisheries and the subsequent oversight of the process involved with the enhancement of these resources.Wes Oja, Jerome Chvilicek or Dan Bergstrom at (406) 656-7500 or Justin Bryan in our Abilene office at (325) 260-5883 are available to describe and discuss these services in detail and welcome your call.

AUCTIONS - Hall and Hall Auctions offer “Another Solution” to create liquidity for the owners of Investment-Quality Rural Real Estate. Our auction team has experience in marketing farmland, ranchland, timberland and recreational properties throughout the nation. Extreme attention to detail and complete transparency coupled with Hall and Hall’s “Rolodex” of more than 40,000 targeted owners and buyers of rural real estate help assure that there are multiple bidders at each auction. In addition, the unique Hall and Hall partnership model creates a teamwork approach that helps to assure that we realize true market value on auction day. For more information on our auction services contact Scott Shuman at (800) 829-8747.

APPRAISALS - Staying abreast of ancillary market influences in ever-changing economic conditions requires a broad professional network to tap into. Finding an appraiser who not only understands the numbers but also the differences in value from one area to another is a critical part of making an informed decision. The appraisal team at Hall and Hall, formed entirely of Accredited Members of the American Society of Farm Managers and Rural Appraisers (ASFMRA), has that critical network of brokers and lending professionals. This professional network coupled with diverse experience across multiple regions and market segments allows our appraisal team to deliver a quality product in a reasonable timeframe. For more information contact our appraisal team at (406) 656-7500.

SPECIALIZED LENDING - Since 1946 Hall and Hall has created a legacy by efficiently providing capital to landowners. In addition to traditional farm and ranch loans, we specialize in understanding the unique aspects of placing loans on ranches where value may be influenced by recreational features, location and improvements and repayment may come from outside sources. Our extensive experience and efficient processing allows us to quickly tell you whether we can provide the required financing.

NOTICE: Offering is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classifications, acreages, carrying capacities, potential profits, etc., are intended only as general guidelines and have been provided by sources deemed reliable, but whose accuracy we cannot guarantee. Prospective buyers should verify all information to their satisfaction. Prospective buyers should also be aware that the photographs in this brochure may have been digitally enhanced.

Cooperative Broker Guidelines

We appreciate your willingness to help us with the marketing of our listings. We would like the basis of our cooperative efforts and commission splitting arrangement to be the following:

Our gross commissions vary by listing and, consequently, our offer of compensation to cooperative brokers varies accordingly. You may contact one of our brokers and obtain the specific offer of compensation for any of our active listings. Our offer of compensation assumes that you enter fully into the total transaction process.If you make a referral only or if you are not licensed in the state in which the property is located, we will pay you 20% of the buyer's side of a commission we receive within one year. After one year, the referral percentage shall drop to 10%. Needless to say, every situation is not the same and we reserve the right to make adjustments if appropriate. In particular, we reserve the right to change this arrangement when we are working with a broker who does not offer at least as favorable an arrangement to brokers working on their listings.

In some cases our listing agreements call for a higher commission if we cooperate with another broker. While this is done to encourage your participation and help, you should be aware of the fact that it could put your buyer at a disadvantage in case we should have a similar or equal offer from a buyer who is working through Hall and Hall. In this eventuality, we assure you that you will be informed of the situation to the fullest extent allowable.

Our obligation to share with you is conditioned upon your adherence to the following rules and procedures:

We require that you at all times use our brochure with its cover, narrative, maps and photographs to present the property. Feel free to contact our office for additional brochures. We prefer that photocopies of our brochures & photos or printed out versions off our website not be sent out.

Any contact whatsoever with the owners of the properties must be channeled through our office.

All offers and negotiations must be communicated through our office with earnest monies to be placed either in our real estate trust accounts or in the trust account of a closing agent.

We ask that our listings be treated as unique offerings, which one should be honored to look at and have an opportunity to purchase. With that in mind, we have represented to the owners that we will be present at all showings to be sure our listings are presented in the best possible light. We will need sufficient advance notice so that a licensed broker or salesman from our office can be present. We will do everything we can to accommodate your schedule. Only by special arrangement do we allow other brokers to show our listings.

Until you register your prospect by name with our office, you are totally at risk. Before you do register a prospect, we require that you first specifically discuss the following items with that prospect:

(a) Your prospect must be informed that he or she is being registered as your prospect for the specific Hall and Hall listings that you are presenting.

(b) He or she must be asked both if he or she has already been presented the property by someone else and if he or she is already working with Hall and Hall. If there is a conflict between outside brokers, preference will be given to the buyer's choice of broker and to the broker who is the procuring cause of an offer. If your prospect is already working with Hall and Hall, we will not recognize him or her as your prospect unless you have a written and fully executed exclusive buyer broker agreement with said prospect.

If you involve additional brokers, you will be required to compensate them out of your share.

Unless you notify us to the contrary, we will assume that you will be working as a statutory/transaction broker or itís equivalent whereby you are representing neither party.

We do not permit any advertising of Hall and Hall exclusive listings by cooperating brokers.

AgencyIt is our policy to compensate cooperating brokers as buyer brokers or statutory/transaction brokers only. We no longer offer compensation to subagents. If you have an agreement, written or oral, with a buyer in which the buyer compensates you for all or a portion of the commission, you must fully disclose the terms of said Agreement to us in writing. It is our preference that the Buyer compensate you if you are a Buyer Agent. We will discuss a reduction of our fee in these circumstances.

If you have any questions or wish to schedule a showing, please contact any of our brokers or sales associates. You should be aware that our office operates on a partnership basis, so it does not matter which broker you contact, you should feel free to work with whoever you are most comfortable with. Again, thank you for your help and cooperation.